CISCO, Texas-BroadBand Wireless International Corp. said Ronald L. Baker resigned as a director of the company on May 3, at which time an internal investigation of certain financial and accounting irregularities and possible violations of federal securities laws began.
Ivan W. Webb, chairman of the company, said, “The matters underlying at least part of our investigation materially affect the company’s present ability to continue our previously announced plans to pursue wireless operations domestically.”
BroadBand Wireless International will concentrate on its activities abroad, Webb said, as well as centralize all its administrative operations in Cisco, Texas.
Separately, the company announced Justin Ellis and Linda Sanders are no longer officers of the company, and that Tommy K. Hill has been elected chief operating officer.
